# Oil prices slip amid broad market sell-off that outweighs expected OPEC cuts

> Brent and WTI slipped on Nov 20, 2018 as a broad stock market sell-off outweighed expectations of new OPEC output curbs. US crude output rose nearly 25% this year to a record 11.7 million bpd. Speculative funds have cut their positions sharply over the past seven weeks.

- Date: 2018-11-20 · published 2018-11-20T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/10584-oil-prices-slip-amid-broad-market-sell-off-that-outweighs-expected-opec-cuts
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Record US supply and fund liquidation weigh on crude prices, and lower energy prices reduce the cost of ethanol and biodiesel feedstocks. Prices remain roughly a quarter below early-October peaks.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2018-11-20 | 1 | -5.3% | -3.4 | Nov 20 move attributed to broad stock sell-off outweighing OPEC cut expectations, with record US output and fund liquidation adding pressure. |
| BRENT | 2018-11-23 | 5 | -11.6% | -3.3 | Equity sell-off outweighed OPEC cut expectations on Nov 20, with record US output adding supply pressure. |

## Sources

- business-standard.com: https://www.business-standard.com/article/reuters/oil-prices-slip-amid-broad-market-sell-off-that-outweighs-expected-opec-cuts-118112000462_1.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.